Fair Market Value
Fair market value is a selling price the buyer and seller agree on.
FDIC Insured refers to a bank account that is insured by the government. The account's contents are protected up to $250,000.
FICO score is a type of credit score that lenders use to determine an applicant's credit risk and whether to extend a loan. FICO is an acronym for the Fair Isaac Corporation, the creators of the score.
First Lien (Mortgage or Deed of Trust)
First lien is the legal right of a creditor to sell the collateral property of a debtor who fails to meet the terms of a loan contract.
Fix and Flip
Fix and flip is a real estate investment strategy in which an investor buys properties with the goal of selling them for a profit after making improvements.
Foreclosure is the process of a lender taking possession of a mortgaged property due to the borrower's failure to make payments.